Kolkata-based Titagarh Rail Systems Ltd announced on Wednesday (October 28) that it has received an additional order worth ₹1,716.90 crore, plus goods and services tax (GST), from the Ministry of Railways for the manufacture and supply of 4,955 BOXNHL wagons. According to the company's regulatory filing, the order was placed under the option clause of the original contract at the same price, terms and conditions. With the additional quantity, the total number of BOXNHL wagons under the contract has increased to 9,994. The Ministry of Railways issued the amendment letter on the same day under Clause 12, the option clause, of the original contract, demonstrating continued confidence in Titagarh Rail Systems' manufacturing capabilities and product quality.
The total amended contract value stands at ₹10,404.10 crore, inclusive of GST, according to the company's filing. The execution and delivery period for the additional order is 222 days from the date of the amendment letter, with completion scheduled by June 7, 2027. The contract also includes manufacture and supply of BCNAHSM1 wagons, expanding beyond the original BOXNHL scope. The Ministry of Railways has exercised this option, with the amendment letter issued under Clause 12 of the original contract, showing the government's continued trust in the company's capabilities.
Shares of Titagarh Rail Systems Ltd ended at ₹692.40, up by ₹38.95, or 5.96%, on the BSE following the announcement. The company confirmed that the order was awarded by a domestic entity, with the promoters, promoter group and group companies having no interest in the entity awarding the contract, and the order not falling under related-party transactions. The stock is currently trading 28.62% below its 52-week high of ₹970.05 and 21.76% above its 52-week low of ₹568.65. The market capitalisation of the company stands at ₹9,324.81 crore. A board meeting is scheduled for October 29, 2026, to consider and approve unaudited financial results for the quarter and half year ended September 30, 2026.
